The planned public listing is notable because Animoca stands out from other recent crypto offerings, including Circle and Gemini, because its business does not revolve around exchanges or stablecoins. Instead, the firm’s focus is in altcoins, or cryptocurrencies other than mainstays like Bitcoin and Ethereum.
“The proposed merger of Animoca Brands and Currenc will result in the world’s first publicly-listed, diversified digital assets conglomerate,” said Yat Siu, co-founder of Animoca Brands.
The deal is set to be finalized in 2026. Animoca’s shareholders will own 95% of the company and current shareholders of Currenc will own the other 5%, according to the statement.
Reverse mergers and SPACs, or special purpose acquisition companies, like the one Animoca is pursuing, have become one of the preferred ways for crypto companies to launch on the stock market.
This is not Animoca’s first experience with public markets. It was previously listed on the Australian Securities Exchanges before being delisted in 2020 because of concerns about compliance with listing rules.
Despite altcoins’ shortcomings, investors have flocked to certain tokens, which have experienced an unprecedented surge under Donald Trump’s administration. Solana and Binance Coin both have notched all-time highs in the past year.
